Northern Ashanti Mines Limited (NAML) has rejected the Minerals Commission's claim that its takeover of the company's Konongo concession in the Ashanti Region was lawful. The company described the Commission's statement as containing "falsehoods, untruths and half-truths." This response comes after the Minerals Commission issued a press release defending its decision to terminate NAML's mining leases and prospecting licences.
According to the Minerals Commission, NAML acquired a mining lease covering 595 cadastral blocks in January 2010 and owed outstanding Annual Mineral Right Fees (AMR) of US$8.33 million for the period 2010 to 2025, plus US$49,928 for prospecting licences from 2019 to 2025. The Commission stated that it issued Notices to Remedy Breach on April 14, 2025, but the company failed to comply.
The Minerals Commission accused NAML of failing to undertake meaningful mining operations for more than two years, contrary to Section 69(1) of Act 703. The Commission subsequently notified the Minister for Lands and Natural Resources on April 7, 2026, obtained approval on April 24, and terminated the mineral rights on April 30, 2026. The termination was enforced on October 22, when officials of the Commission, accompanied by military personnel, entered the Konongo concession.
NAML disputes the Commission's account, stating that it is inaccurate and driven by "an ulterior motive to destroy a Ghanaian company which has invested over two hundred million dollars (US$200,000,000) in a mine it took over in 2020." The company denies that the Commission satisfied Section 68 of Act 703, stating that no letter alleging a statutory breach was ever issued before the revocation.
NAML also disputes the Commission's claim of indebtedness, describing the US$8.332 million and US$49,000 claim as "extremely bizarre." The company cites an audit communication from the Minerals Commission itself as recently as May 2026, which pegged NAML's total debt at about US$2.4 million, separate from a legacy debt of US$8.3 million standing in the name of Owere Mines, the previous operator.
The company rejects the claim that it has not undertaken meaningful operations for over two years, stating that responsible mining involves mine development and investment. NAML notes that the Minerals Commission itself granted permits for a new plant and for mining to stockpile ore, including two permits on February 7 and 17, 2026.
NAML has resorted to the court to protect its investment and its ambition to build an indigenous Ghanaian mining company. The company remains open to dialogue and a process "that will not sour the investment climate for mining in Ghana." The dispute is now before the court, with the Minerals Commission stating that the mining rights have reverted to the State without affecting NAML's outstanding liabilities.
Key points
- NAML disputes the Minerals Commission's claim of lawful takeover of its Konongo concession.
- The company cites inaccuracies in the Commission's account, including issues with due process and indebtedness.
- NAML has resorted to the court to protect its investment and ambition to build an indigenous Ghanaian mining company.
